20 Jan 2024 , 03:39 PM
Kotak Mahindra Bank allocates Rs 143 crore as a post-tax provision on its alternate investment fund (AIF) investments in adherence to the RBI’s circular dated December 19, 2023.
The RBI directive, issued on December 19, prohibits regulated entities, including banks, non-bank lenders, and home financiers, from investing in AIFs connected to companies borrowing from the lenders.
HDFC Bank and RBL Bank also make provisions in line with RBI’s guidelines, with HDFC Bank’s CFO, Srinivasan Vaidyanathan, mentioning a 100 % contingent provision on their AIF book of Rs 1,220 crore.RBL Bank discloses a Rs 115 crore contingent provision on its AIF investments, emphasizing its focus on venture debt funds for digital businesses in compliance with the recent RBI circular.
All three banks take prudent measures to comply with the regulatory framework and make necessary provisions within the stipulated timelines.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.